How is ripple different from bitcoin - I became rich using this method and now I make over $10,000 monthly.
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Scott Evans
08.02. 2018 14:03  | 

When it comes to the cryptocurrencies there are many differences between, from adoption rate and technology that cryptocurrency is based on to services that some cryptocurrency is providing to its users. There are more than one differences between Ripple and Bitcoin, let\'s start with the most important one.

Bitcoin is decentralized network which mean that there are no government, institution or any entity that have full control of network. Ripple is complete opposite from Bitcoin when it comes to the control, it is owned by the company with the same name, which means that Ripple company have full control of Ripple cryptocurrency and they can end it when they want. Another difference, Bitcoins are dispersed worldwide. The biggest Bitcoin wallet holds almost 1% of all Bitcoins, while Ripple the company owns almost 60% of XRP tokens.

The main purposes are also different between these two digital currencies. Bitcoin was created as a storing value, alternative to traditional financial system, where government and central banks are determining amount of money in circulation. Ripple is created to make transactions between banks within the system easier, simpler and digital.

Transaction speed for some users may be the biggest difference between Bitcoin and Ripple, especially because high transaction speed is one of the biggest problem of Bitcoin. Average Bitcoin transaction confirmations take 10 minutes, while Ripple transaction confirmations take 5 seconds.

Getting the new tokens is also different between these two. While Bitcoin need to be mined, Ripple doesn\'t need to. All the Ripple tokens are transaction fees are burned.

The number of tokens in circulation. 100 Billion XRP have been initially pre-mined. At this moment there are about 38 Billions, while the rest of it are stored somewhere in Ripple labs. Bitcoin is not pre-mined. It has limited supply of 21 million Bitcoins, while there are in circulation above 16 million of its.

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